How Profitable Are Waxing Franchises?
Body hair removal has been around for a long time. Some historians trace it back to the Stone Age when cavemen and women removed hair for safety reasons — to avoid it being grabbed in battle. In Ancient Egypt, body hair was considered uncivilized. In the Middle Ages, eyebrow plucking became a thing. But in more modern history, hair removal became prevalent in the 20th century as a fashion trend for women to remove armpit and leg hair.
Hair removal has come a long way since then. Methods are more efficient thanks to waxing, a preference for many compared with shaving unwanted body hair. In shaving, the hair is cut on the surface, resulting in quick regrowth within a few days to a week. Waxing pulls the hair from the root, allowing for smoother, hair-free skin for a longer time, specifically, three to four weeks. For those not accustomed to body waxing, this may sound painful, but the process has become so common and fine-tuned that it can actually be a comfortable and even relaxing process when performed by a skilled, licensed esthetician.
Is Waxing a Profitable Business?
The popularity of body waxing has made the waxing industry big business. Looking at the latest waxing industry statistics, Here in the U.S., IBISWorld says the Personal Waxing & Nail Salons industry is valued at $21.7 billion this year with a 5.4% growth rate.
To be part of this flourishing industry, understand that as consumer demand for these services has grown, so has the competition. Going head-to-head in the market against big name brands is a Herculean task for an independent startup. Instead, consider the advantages of being part of a waxing franchise.
Waxing Franchise Opportunities
Becoming a franchise owner with a hair removal franchise means benefitting from established brand recognition which can make it easier to attract customers and build a loyal following. Rather than learning the ropes and starting from scratch, there is a proven business model to utilize, with processes and procedures that have been tested and refined over time. This can save time and money by avoiding trial and error and allowing the focus to be on running the business. Operating the business is a streamlined process thanks to the training and support from the franchisor, which can prevent costly mistakes.
The Waxing Services
When looking at waxing franchises, the services vary by brand. Brands may offer a menu of body waxing specialties like eyebrow, lip, chin, and facial hair removal. Full body waxing may include armpit, leg, back, stomach, and bikini waxing. There are also Brazilian wax franchises —designed to remove unwanted hair inspired by Brazilian cut swimsuits. These hair removal services are growing in popularity for men and women who enjoy smoother skin compared to shaving. According to Statista, 6.39 million Americans used professional waxing services four times or more within six months in 2020.
With high demand and profit potential, the question is: What are the initial costs of a franchise that does body waxing?
Here are some figures from two brands to consider. According to numbers from Entrepreneur:
European Wax Center
Franchise fee is $45,000.
Initial investment ranges from $349,600 to $553,950.
Waxing the City
Franchise fee of $42,500.
Initial investment of $223,965 to $493,428.
More Services = More Profit Potential
Although both brands have similar costs, no matter the price tag, the problem is that specialty services like a waxing-only business may not be as lucrative as owning a massage and waxing franchise like MassageLuXe. Combining these services means you, as a franchise owner, can offer a better variety of services to your customers, which can improve your bottom line. Our model is designed to provide multiple revenue streams from a menu of services that can be utilized by customers on a recurring basis, creating the potential for reliable monthly income.
In addition to our large selection of massages, we offer facials and waxing — a triple threat in the industry. This trio of services means customers stay longer at your location utilizing more spa services — improving your ROI. The end goal is to increase client engagement, which is a focus of ours, and something we excel at over the competition.
The MassageLuXe spa franchise cost is similar to what you might spend on a waxing-only franchise, but we provide additional opportunities to increase your profit margin by offering not just waxing, but massages and facials. Our model was created with an expanding service line and product offerings designed to create steadier sales cycles and reduce administration and billing time.
To learn more about spa franchise opportunities with MassageLuXe by filling out the form on this page.